Angel Oak Mortgage REIT (NYSE:AOMR) Announces Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.16, Zacks reports. The company had revenue of $9.90 million during the quarter, compared to analysts' expectations of $9.90 million. Angel Oak Mortgage REIT had a negative return on equity of 4.51% and a net margin of 70.22%.

Angel Oak Mortgage REIT Stock Performance

NYSE AOMR traded up $0.15 on Friday, hitting $9.73. 88,343 shares of the company's stock were exchanged, compared to its average volume of 104,279. The firm has a market cap of $228.76 million, a price-to-earnings ratio of 3.31 and a beta of 1.47. The firm's 50-day moving average price is $9.98 and its two-hundred day moving average price is $10.00. Angel Oak Mortgage REIT has a fifty-two week low of $8.88 and a fifty-two week high of $13.32. The company has a debt-to-equity ratio of 5.29, a current ratio of 5.76 and a quick ratio of 5.76.

Angel Oak Mortgage REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a $0.32 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 13.16%. Angel Oak Mortgage REIT's payout ratio is currently 112.28%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Angel Oak Mortgage REIT from $12.00 to $11.00 and set an "overweight" rating for the company in a research note on Wednesday. Janney Montgomery Scott assumed coverage on Angel Oak Mortgage REIT in a research report on Thursday, January 2nd. They issued a "buy" rating and a $13.00 price target on the stock. B. Riley raised Angel Oak Mortgage REIT to a "hold" rating in a research note on Tuesday, January 7th. Finally, Jones Trading reiterated a "buy" rating and issued a $12.50 target price on shares of Angel Oak Mortgage REIT in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $12.08.

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About Angel Oak Mortgage REIT

Angel Oak Mortgage REIT, Inc, a real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market. It offers investment securities; residential mortgage loans; and commercial mortgage loans.